BITW vs. HDX1.DE
BITW (Bitwise 10 Crypto Index ETF) and HDX1.DE (Hashdex Nasdaq Crypto Index Europe ETP EUR) are both Cryptocurrency funds - BITW tracks the Bitwise 10 Large Cap Crypto Index while HDX1.DE tracks the Nasdaq Crypto Index. Both are passively managed. Over the past 3 years, BITW returned 53.76%/yr vs 18.29%/yr for HDX1.DE. A 0.63 correlation means they provide meaningful diversification when combined. BITW charges 0.75%/yr vs 1.00%/yr for HDX1.DE.
Performance
BITW vs. HDX1.DE - Performance Comparison
Loading charts...
Different Trading Currencies
BITW is traded in USD, while HDX1.DE is traded in EUR. To make them comparable, the HDX1.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BITW achieves a -30.09% return, which is significantly higher than HDX1.DE's -31.96% return.
BITW
- 1D
- 1.83%
- 1M
- -15.18%
- YTD
- -30.09%
- 6M
- -31.04%
- 1Y
- -33.61%
- 3Y*
- 53.76%
- 5Y*
- 3.43%
- 10Y*
- —
HDX1.DE
- 1D
- 0.00%
- 1M
- -18.22%
- YTD
- -31.96%
- 6M
- -33.48%
- 1Y
- -40.47%
- 3Y*
- 18.29%
- 5Y*
- —
- 10Y*
- —
BITW vs. HDX1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | -30.09% | -2.63% | 160.69% | 331.10% | -54.18% |
HDX1.DE Hashdex Nasdaq Crypto Index Europe ETP EUR | -31.96% | -11.17% | 96.67% | 140.36% | -21.66% |
Correlation
The correlation between BITW and HDX1.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | 0.63 |
The correlation between BITW and HDX1.DE shifts across timeframes, from 0.63 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BITW vs. HDX1.DE — Risk / Return Rank
BITW
HDX1.DE
BITW vs. HDX1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITW | HDX1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.86 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | -0.72 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.04 | -1.23 | +0.19 |
Loading charts...
Drawdowns
BITW vs. HDX1.DE - Drawdown Comparison
The maximum BITW drawdown since its inception was -96.46%, which is greater than HDX1.DE's maximum drawdown of -56.28%. Use the drawdown chart below to compare losses from any high point for BITW and HDX1.DE.
Loading charts...
Drawdown Indicators
| BITW | HDX1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -56.28% | -40.18% |
Max Drawdown (1Y)Largest decline over 1 year | -55.51% | -56.28% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -55.51% | -56.28% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -91.93% | — | — |
Current DrawdownCurrent decline from peak | -70.45% | -54.24% | -16.21% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -15.69% | -53.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.38% | 32.98% | -0.60% |
Volatility
BITW vs. HDX1.DE - Volatility Comparison
Bitwise 10 Crypto Index ETF (BITW) and Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) have volatilities of 13.95% and 14.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BITW | HDX1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.95% | 14.04% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 37.24% | 31.52% | +5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.88% | 44.70% | +5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.58% | 50.70% | +14.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.37% | 50.70% | +57.67% |
BITW vs. HDX1.DE - Expense Ratio Comparison
BITW has a 0.75% expense ratio, which is lower than HDX1.DE's 1.00% expense ratio.
Dividends
BITW vs. HDX1.DE - Dividend Comparison
Neither BITW nor HDX1.DE has paid dividends to shareholders.
Frequently Asked Questions
BITW and HDX1.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITW is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITW is cheaper with a 0.75% expense ratio, compared with 1.00% for HDX1.DE.
BITW tracks Bitwise 10 Large Cap Crypto Index, while HDX1.DE tracks Nasdaq Crypto Index. They also come from different issuers: Bitwise and Hashdex. Their fees differ too: 0.75% for BITW and 1.00% for HDX1.DE.
Find the right allocation for BITW and HDX1.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer